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Strong Momentum Continues in Home Sales

In February, 112,818 houses were sold in Turkey. While home sales increased by 20% annually, it was observed that mortgage sales accelerated. During this period, a decrease in foreign interest in homes was also reflected in the data. Home sales throughout Turkey increased by 20.1% in February compared to the same month of the previous year, reaching 112,818. According to the Turkish Statistical Institute (TÜİK) data, the provinces with the highest number of home sales were Istanbul with 19,347, Ankara with 10,791, and Izmir with 6,899, while the provinces with the lowest number were Ardahan with 24, Tunceli with 70, and Bayburt with 73. Home sales in the January-February period increased by 29.1% compared to the same period of the previous year, reaching 224,991. INCREASE IN MORTGAGE SALES Mortgage house sales increased by 90.1% in February compared to the same month of the previous year, reaching 16,778. The share of mortgage sales in total home sales was 14.9%. Mortgage home sales in January-February period increased by 127.3% compared to the same period of the previous year, reaching 33,504. In February, 3,956 mortgage sales were made, while in January-February period, 7,812 mortgage home sales were made as first-hand sales. DECLINE IN FOREIGN SALES Home sales to foreigners decreased by 21.1% in February compared to the same month of the previous year, dropping to 1,457. In February, the share of home sales to foreigners in total home sales was 1.3%. The provinces with the highest number of home sales to foreigners were Istanbul with 539, Antalya with 503, and Mersin with 89. In February, the highest number of home sales to nationals were to citizens of the Russian Federation with 256, Iran with 133, and Iraq with 99.

Strong Momentum Continues in Home Sales

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